• Melissa Walton-Jones

Finer Finance Fridays #2


When you work hard and earn hard, it’s okay to treat yourself once in a while and spend your money on something that will make you happy. As exciting as this idea can be, though, habitual splurging can be ill advised. Here are a few helpful suggestions for those who are looking to save their money and resist the urge to splurge.

1. Check your finances and “save” when you splurge. To know whether you can spoil yourself or not, do a financial checkup before splurging. Save for what you want to spend on rather than making a sudden decision. Sleep on the choice to make large single item purchases or purchases over a certain dollar amount. You might find the sense of urgency to have that item or those items is gone.

2. Plan ahead! If you do plan to spend your money, make sure you don’t overspend by creating a list of the items you will need to purchase. Buy only what you need rather than something you think you might like.

3. Invest in experiences. I went to Abu Dhabi this year, it was an amazing experience, one I will never forget, and it was worth every dollar. You don’t have to spend your money on acquiring material possessions. Instead, invest your money in experiences and memories that can last a lifetime.

4. Give. When you spend money on yourself, you might feel guilty later. But if you spend your money on other people, a kind of tremendous emotional reward overwhelms you. Not only do you improve your social capital, but the old adage is true, "tis better to give..." Besides, this leaves room to receive.

5. Save your coins "Penny-pinching"! There’s absolutely nothing like standing out from the American population and being frugal instead of spending money freely.

Sometimes it’s hard to restrain yourself from spending. However, consider it a test of your financial discipline when it comes to your personal finances. Avoid overindulgence on your wants and remember your needs before you regret spending your money.

The five suggestions above are sure ways to help you save some money, It doesn’t hurt to spend your money on something that makes you happy. But also remember that the best investments you can make are on things you know you will use day to day. Always assess your personal needs and attitudes toward items that you may buy, and decide how to manage your finances and spending in a manner that best suits your budget and needs.

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PROUDLY ENDORSED BY: OMEGA IOTA ZETA CHAPTER │ STATE OF MISSOURI │ MIDWESTERN REGION

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Soror Melissa Walton-Jones, Zeta Phi Beta Sorority, Inc.

2020 Candidate for Re-Election: International Tamias